Singapore's total trade increases 18 pct in Q3

Singapore's total trade grew by 18 percent in the third quarter of 2010 on a year-on-year basis, following the previous quarter's expansion of 28 percent, the government said on Thursday.

On a quarter-on-quarter seasonally adjusted basis, the total trade decreased by 0.4 percent in the third quarter, after the 4.7 percent increase in the previous quarter, the trade promoting agency International Enterprise (IE) Singapore said.

The key non-oil domestic exports (NODX) grew by 24 percent in the third quarter after the previous quarter's increase of 28 percent.

Projected total trade growth in 2010 has been upgraded to between 20 and 21 percent from the previous forecast of 17 to 19 percent. NODX growth has also been revised to between 23 to 24 percent, up from the previous forecast of 17 to 19 percent.

Total trade and NODX are expected to grow by between 6.0 and 8.0 percent in 2011.
(Source:xinhua)